KIEV, March 17 – The European Investment Bank on March 10 approved the financing of a production line for processing tomatoes in Ukraine.

The bank said on its website that the proposed investment underpins the promoter's strategy to increase the competitiveness of its business through expansion of capacity and resource efficiency.

The total cost of the project and the recipient of the funds are not disclosed.

In May 2016 the International Finance Corporation from the World Bank Group said it would provide $10 million to Agrofusion Group to boost its working capital. Agrofusion is the largest Ukrainian vertically integrated industrial tomato paste producer created by former co-founder of Sandora juice producers businessman Serhiy Sypko. The funds were invested late October 2016, the IFC said on its website.